In­vestors drive out Deben­hams bosses

The Observer - - Business & Cash -

The chair­man and chief ex­ec­u­tive of Deben­hams have been ousted from the re­tailer’s board­room af­ter two ma­jor share­hold­ers – in­clud­ing Mike Ash­ley’s Sports Di­rect – voted against them. The chair­man, Ian Cheshire, stepped down im­me­di­ately while the chief ex­ec­u­tive, Ser­gio Bucher, will stay on but not as a di­rec­tor. Sports Di­rect owns nearly 30% of Deben­hams shares.

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